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Shenzhen Tellus Holding Q1 profit falls YOY

Shenzhen Tellus Holding Co. Ltd. said its first-quarter normalized net income amounted to 835,810 yuan, a decline of 63.9% from 2.3 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 1.0% from 2.0% in the year-earlier period.

Total revenue decreased 30.9% on an annual basis to 81.3 million yuan from 117.6 million yuan, and total operating expenses decreased 32.8% from the prior-year period to 76.7 million yuan from 114.0 million yuan.

Reported net income declined 77.8% year over year to 788,020 yuan, or 0 fen per share, from 3.6 million yuan, or 2 fen per share.

As of April 28, US$1 was equivalent to 6.20 yuan.